Sep 22, 2022 - 01:01 pm

Sunwoda to build another 50 GWh battary factory in China

Chinese battery manufacturer Sunwoda Electric Vehicle Battery is pushing hard to build new production facilities. According to a stock exchange release, Sunwoda will build a new factory with an annual capacity of 50 GWh in the city of Yiwu in the Chinese province of Zhejiang.

Sunwoda will invest about 3 billion euros in the new electric vehicle battery plant to produce cells, modules, packs and complete battery systems for vehicles and stationary energy storage systems. Construction will take place in two phases with an initial annual capacity of 30 GWh and a further 20 GWh at a later date. Therefore, the initial investment will be around 1.8 billion euros, before investing another 1.2 billion euros (12.5 and 8.5 billion yuan) for the second phase.

Sunwoda Electric Vehicle Battery announced a 30-GWh battery factory with Dongfeng in Yichang, Hubei province, just a few days ago. The company’s other battery factories, with annual capacities of 30 GWh and 20 GWh, respectively, are reportedly being built in Zhuhai (Guangdong province) and Shifang (Sichuan province). As indicated by CN EV Post, Sunwoda has announced 14 investments since March 2021, totalling 110 billion yuan (15.7 billion euros).

Sunwoda was founded in 2008 and initially specialized in consumer batteries. The company’s electric car battery business has significantly expanded in recent years, so the EVB (Electric Vehicle Battery) division has announced numerous investments.

In 2021, Sunwoda just made it into the top ten among Chinese battery cell manufacturers with a market share of 1.3 per cent – behind companies such as Farasis Energy, Eve Energy and Tafel New Energy. By August 2022, Sunwoda came in at number five in China with a 2.88 per cent market share, overtaking not only Farasis, Eve and Tafel, but also SVOLT Energy (2.49 per cent). CATL (46.8 per cent) leads the way, followed by BYD (21.9 per cent), CALB (5.62 per cent and Gotion High-Tech (4.76 per cent).

Sunwoda generates virtually all of its sales in China. In Europe, only the Dacia Spring uses Sunwoda battery cells, and even the Dacia is only the sister model of the Renault K-ZE City, which was designed for the Chinese market.

cnevpost.com

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Found on electrive.com
https://www.electrive.com/2022/09/22/sunwoda-to-build-another-50-gwh-battary-factory-in-china/
22.09.2022 13:05